US battery cell developer 24M has announced the delivery of commercial-sized lithium metal battery cells to a major automotive original equipment manufacturer (OEM), although the company has not disclosed the name of the recipient. However, Volkswagen, which has held a 25% stake in 24M since early 2022, is widely speculated to be the customer.
Founded in 2010 and headquartered in Cambridge, Massachusetts, 24M focuses on providing cell manufacturing platforms and primarily generates revenue by licensing its innovative ‘SemiSolid’ technology. The current delivery marks the first time a major automotive OEM has access to 24M’s battery cells, though these particular units utilize a liquid electrolyte rather than the semi-solid electrolyte technology for which the company is known.
Naoki Ota, CEO and President of 24M Technologies, described this delivery as a significant initial step “in restoring consumer confidence that a safer, longer-lasting, and more efficient battery is obtainable.” He highlighted the company’s commitment to ensuring particularly safe battery solutions.
Recently, 24M has introduced several core innovations, including a binder-free SemiSolid electrode, a new liquid electrolyte for lithium metal batteries, a direct recycling process, and an innovative battery separator. Additionally, they have developed a system called ETOP, which stands for ‘Electrode-to-Pack,’ where the electrodes are integrated directly into the battery pack for enhanced efficiency.
The lithium metal battery cells delivered to the unnamed car manufacturer feature the newly developed separator and liquid electrolytes, although further details have not been disclosed. Ota emphasized that addressing “growing concerns around battery fire safety” is essential for the widespread adoption of electric vehicles (EVs) and achieving a more sustainable energy future.
To support the commercialization of its technologies, 24M recently closed a financing round (‘Series H’) that raised $87 million, largely through a transaction with Nuovo+. Nuovo+ not only acts as an investor and strategic partner but also holds a license for 24M’s technology. This capital will be crucial for advancing the company’s development efforts.
